• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

ETH Founder Discusses 3-5 Year Roadmap; Focuses on Improving Security

Martin Young by Martin Young
4 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Ethereum creator Vitalik Buterin has laid out the future plans for the technology at a blockchain conference in Taiwan. He opened with a statement in reference to the numerous Ethereum replacements that have been launched in recent months. “The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum… 2.0.”

Four areas of improvement to the Ethereum platform were then described; privacy, consensus safety, smart contract safety, and scalability. Buterin sees a solution for each of the first three through current and future hard forks. Byzantium has introduced some new cryptographic algorithms such as zero-knowledge proofs and ring signatures which can give coders tools to build solutions that will address the privacy issues.

The privacy problems are three quarters to being solved from the base layer he stated, the fourth quarter is at a protocol level. Byzantiums’ zk-Snarks provide the ability to hide a transaction at all while permitting you to decide who you wish to show that transaction to at the same time.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The Casper update will address consensus safety issues and a later Viper update will work on smart contract safety. Scalability remains to be the tough one to solve as a sacrifice of one of three factors must be made in order to achieve it. Decentralization, security, and scalability need to be able to work together. Currently, scalability is sacrificed with existing blockchains of Ethereum and Bitcoin. Larger blocks would improve this but at the expense of decentralization. The goal is to have the trifecta working together on-chain with the use of second layer solutions, such as Plasma, Raiden, or the Lightning Network.

He went on to state that the aim is to scale on-chain to thousands of transactions without masternodes, consortium nodes, or any other centralizing aspects. This will be achieved through a system he described as sharding, which allows side chains where protocol changes can be upgraded but keeping the primary chain complete.

The roadmap set out was three to five years to achieve this, it would also involve a change from proof of work to proof of stake. Using validator managers to replace the traditional method of mining to validate transactions would be at the heart of this change in protocol. He described it as two worlds, the old world that keeps operating with the same level of scalability which currently is limited as each transaction is replicated by each node that has to run on a computer.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The new world has its own rules which have quadratic scalability as nodes that validate certain shards. These act as light clients for other shards, with this new world potentially having even higher levels of scalability dependent on how sharding is implemented or incrementally improved.

Ethereum currently handles more transactions than all other decentralized public blockchains combined, it has increased by ten times since last year. Time is of the essence but these developments will not happen overnight, Ethereum has a long road ahead.

Tags: blockchain technologyEthereum Analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

Bitcoin Dominance Remains High As Market Sell-Offs Settle

2 hours ago
Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

6 hours ago
bitcoin

Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000

8 hours ago
CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

8 hours ago
Six Years of Relentless Efforts: ViaBTC is Always on the Way

Six Years of Relentless Efforts: ViaBTC is Always on the Way

8 hours ago
Top 3 Web3 Coins to Watch in 2022

Top 3 Web3 Coins to Watch in 2022

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Interest-free Loan, New way of Assets Increase

May 26, 2022

Hoskinsea Partners with Pavia land to Setup A Virtual Headquater On The Metaverse

May 26, 2022

The first free and equal digital country – HyperNation global theme conference was held

May 26, 2022

HyperNation’s event launch sales on HITCHHIKER OF STAR (H.O.S) went out like wildfire

May 26, 2022

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.